Finance Manager, Supply Chain Operations

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries

JOB DESCRIPTION:

About Abbott Diagnotics

Diagnostic testing is a compass, providing information that helps in the prevention, diagnosis and treatment of a range of health conditions.

Abbott's life-changing tests and diagnostic tools give you accurate, timely information to better manage your health. We're empowering smarter medical and economic decision making to help transform the way people manage their health at all stages of life. Every day, more than 10 million tests are run on Abbott's diagnostics instruments, providing lab results for millions of people.

Our location in Lake Forest, IL currently has an opportunity for a Finance Manager, Supply Chain Operations.

WHAT YOU'LL DO

The Finance Manager, Supply Chain Operations is a key member of the ADD Core Lab Operations Finance team and provides a wide range of financial planning and analysis support for the DVP, Supply Chain Operations and their staff. Key areas of responsibility include Planning and RLBEs, Actuals Reporting and Commentary and support of Month End Close for the Supply Chain organization, including Supply Chain Headquarters, Logistics, Demand Planning and the Lake County Distribution Center (LCDC). In addition, the role oversees Standard Cost setting for over 1,300 finished good reagents and consumables purchased from TPMs, representing over $500MM of spend annually (~70% of total Core Lab Operations Reagent SCOP).

This position is also responsible for coordination with the Corporate Transfer Pricing team to ensure that all costing and internal transfer prices are loaded for all reagents and consumables distributed from the LCDC, which total over 2,300 parts annually. In addition, seamless execution and management of like activities for all new product launches is critical, especially with the recent launches of ADD's COVID-19 assays.

The manager is responsible for monitoring, troubleshooting, and resolving intercompany accounting issues related to the TPM purchasing process through ALVE (intercompany pass-through entity), and other issues related to billing/credits/debits between intercompany entities (EDC, ARDx and other Divisions) In addition, the role routinely coordinates with Corporate Treasury to ensure TPM purchases through the various entities are properly hedged to minimize FX exposure for Abbott.

The position requires strong financial analysis skills, development and delivery of executive ready presentations to ADD Operations Leadership and ability to work across functions (Transfer Pricing, CFS, Margin Team, Commercial, other Divisions, etc) to proactively identify and resolve issues impacting ADD Supply Chain. Technical skills related to cost accounting, entity, deferred margin, transfer pricing, exchange and prior knowledge of SAP, particularly the Purchase-to-Pay module, are also strongly desired.

The position has two direct reports and manages the ADD Operations summer intern assignment.

Key Responsibilities:

• Manage annual standard setting and analysis of burden pool for all reagents/consumable finished goods purchased from TPMs (~1,300 parts/$500MM spend)
• Oversee the system cost loads for all reagents/consumables distributed through LCDC annually and as new products are launched, including coordination of effort to obtain/load related intercompany transfer pricing
  • TPM reagents purchased through Global Procurement
  • TPM reagents purchased direct by Commercial organization that flow through LCDC for billing purchases
  • Product manufactured internally and sourced from the EDC
• Monitor/troubleshoot/resolve intercompany accounting issues related to inventory/billing:
  • In-transit, AP, PPV, SRV, and margin issues resulting from TPM purchases through ALVE (each purchase requires two POs that must be balanced for proper accounting, year over year pricing changes)
  • Approval of debit/credit memos for product issued from LCDC
  • Resolution of intercompany pricing issues leading to unpaid/unbalanced intercompany invoices
• Oversee allocation process of inbound/outbound LCDC freight expense across all relevant areas within ADD (Operations, Commercial Affiliates, R&D, etc), manage relationship with 3rd party invoice processor, and drive continuous process improvement on overall ADD freight cost
• Lead development of quarterly RLBEs and Confirmations for the ADD Operations Supply Chain Organization including LCDC, Logistics, Demand Planning, Global Procurement, etc. Support development of EDC forecasts where coordination with Headquarters is required
• Lead monthly close and actuals reporting process for the ADD Operations Supply Chain Organization. Support EDC close where coordination with Headquarters is required (i.e. global reserves, accruals, end of life assumptions, etc)
• Develop and deliver monthly presentation of actuals and forecasts for the DVP, ADD Operations Supply Chain and their staff
• Prepare RLBE and Plan presentations for review of ADD Supply Chain Operations financials with the ADD DVP, Global Operations, and as input to the overall ADD Operations reviews with ADD's EVP, Division President and DVP, Division Controller
• Direct and manage financial support for the ADD Demand Planning and Global Procurement functions, including management of routine and ad hoc requests regarding TPMs (volume analytics, PO pricing, non-direct inventory related payments, rebates, true-up reconciliations, etc)
• Direct and manage financial support for LCDC warehouse management (~110 HC), including monitoring of KPIs, alignment of metrics/reporting with the EDC, capital projects, and support for GMI projects or other site initiatives

Skills Required:

• Financial expertise: Requires excellent analytical and problem-solving skills; ability to identify and concisely communicate the business implications of forecasts and actual results. Strong knowledge of accounting, standard setting, intercompany transactions and finance principles with the ability to apply this knowledge to support business needs. Ad hoc analysis and preparation of presentations for leadership are also important aspects of this role.

• Leadership: This individual will lead the Supply Chain Operations Finance organization and serve as the lead financial support for the DVP, Supply Chain Operations. They will lead the Standard Setting process for all TPM sourced reagent product for the Division. Must possess leadership skills, including influencing others, and the ability to direct the efforts and development of analysts.

• Communication: This role interfaces with multiple levels within the Operations and the broader ADD organization; excellent communication skills are essential. Interaction with multiple levels of the organization will require demonstrated maturity, professionalism and tactfulness.

• Deliver Results: Candidate must manage multiple priorities and changing customer demands under tight timelines. Ability to effectively manage workload to ensure deadlines are not missed is critical. The individual must be highly motivated and have a desire to innovate and drive productive change. The ability to work effectively in teams, as well as independently, is essential.

EDUCATION AND EXPERIENCE YOU'LL BRING

Required

• Bachelor's Degree in Finance or Accounting. CPA, CMA or MBA recommended.
• Requires a minimum of 5-7 years of progressive Finance/Accounting experience.

Preferred

• Experience with cost accounting, standard setting, transfer pricing/deferred margin and/or intercompany accounting are strongly preferred.
• Working knowledge of TM1, HFM and SAP (Symphony) is preferred.

WHAT WE OFFER

At Abbott, you can have a good job that can grow into a great career. We offer:

• Training and career development, with onboarding programs for new employees and tuition assistance
• Financial security through competitive compensation, incentives and retirement plans
• Health care and well-being programs including medical, dental, vision, wellness and occupational health programs
• Paid time off
• 401(k) retirement savings with a generous company match
• The stability of a company with a record of strong financial performance and history of being actively involved in local communities

Learn more about our benefits that add real value to your life to help you live fully: http://www.abbottbenefits.com/pages/candidate.aspx

Follow your career aspirations to Abbott for diverse opportunities with a company that provides the growth and strength to build your future. Abbott is an Equal Opportunity Employer, committed to employee diversity.

Connect with us at www.abbott.com, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal.

JOB FAMILY:
Financial Planning and Analysis

DIVISION:
ADD Diagnostics

LOCATION:
United States > Lake Forest : CP01 Floor-3

ADDITIONAL LOCATIONS:

WORK SHIFT:
Standard

TRAVEL:
Yes, 5 % of the Time

MEDICAL SURVEILLANCE:
Not Applicable

SIGNIFICANT WORK ACTIVITIES:
Continuous sitting for prolonged periods (more than 2 consecutive hours in an 8 hour day), Keyboard use (greater or equal to 50% of the workday)

Abbott is an Equal Opportunity Employer of Minorities/Women/Individuals with Disabilities/Protected Veterans.

EEO is the Law link - English: http://webstorage.abbott.com/common/External/EEO_English.pdf

EEO is the Law link - Espanol: http://webstorage.abbott.com/common/External/EEO_Spanish.pdf